Mubasher: Abu Dhabi National Oil Company (ADNOC) said is considering a number of proposals from different banks to manage the listing of its retail unit in the stock exchange.

These banks are Goldman Sachs, First Abu Dhabi Bank, HSBC, and JPMorgan, sources told Reuters on Wednesday.

According to Reuters, Rothschild is separately in a strong position for an advisory role in a deal that could raise $1.5 to $2 billion.

The spokesperson of the Abu Dhabi National Oil Company (ADNOC) said that listing some of its subsidiaries in the capital market, by offering some minority stakes, is still under study.

More information will soon be revealed, the spokesperson told Mubasher on Wednesday.

The company’s CEO, Sultan Ahmed Al Jaber, recently said that ADNOC was planning to list several minority stakes in a number of its subsidiaries in the UAE’s stock markets to support growth and expansion in the private sector.

Al Jaber also noted that ADNOC is considering merging its marine services units by the end of 2017, in an attempt to reduce operating and production costs, adding that the merger was likely to result in major financial and operational gains for the mother company as well